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Additional risks and uncertainties that we are unaware of, or that we currently believe are not material, may also become important factors that adversely affect our business or results of operations.
+Added: Our business may be negatively impacted by the recently announced transition of our Chief Executive Officer (CEO).
+Added: While we will continue to depend on the services and performance of our other senior management and key employees, our performance may be impacted if we do not successfully manage the transition process.
+Added: In October 2022, our co-founder and CEO, Alan Knitowski, submitted notice of resignation to the Company effective the expiration of his employment contract on December 26, 2022.
+Added: Our board of directors has formed a leadership transition committee and has engaged a consulting firm to commence a search for new leadership candidates.
+Added: The engagement of external consultants will result in additional costs to us.
+Added: If we are unable to execute a timely and orderly transition and successfully integrate a new executive into our leadership team, revenue, operating results and our financial condition may be adversely impacted.
+Added: Our future performance also will continue to depend on the services and contributions of our other senior management and key employees to execute on our business plan and to identify and pursue new opportunities as well as service and product innovations.
+Added: These changes, and any future changes, in our operations and management team could be disruptive to our operations.
Our business is subject to evolving corporate governance and public disclosure regulations and expectations that have increased both our compliance costs and the risk of noncompliance, which could have an adverse effect on our stock price.
We are subject to changing rules and regulations promulgated by a number of governmental and self-regulatory organizations, including the SEC, the Nasdaq Stock Market and the FASB.
−Removed: These rules and regulations continue to evolve in scope and complexity, making compliance more difficult and uncertain.
+Added: These rules and regulations continue to evolve in scope and complexity, often making compliance more difficult and uncertain.
In addition, increasingly regulators, customers, investors, employees and other stakeholders are focusing on environmental, social and governance (ESG) matters and related disclosures.
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Adverse macroeconomic conditions, including inflation, slower growth or recession, new or increased tariffs, changes to fiscal and monetary policy, tighter credit, higher interest rates, high unemployment and currency fluctuations could materially adversely affect demand for our products and services.
−Removed: Inflationary pressures and supply chain disruptions could impact the price at which we acquire components required in the assembly of Lyte by Phunware computer systems.
+Added: Inflationary pressures and supply chain disruptions could impact the price at which we acquire components required in the assembly of Lyte computer systems.
Our principal operating expense is compensation related costs.
−Removed: Inflation rates, particularly in the United States, have increased recently to levels not seen in years, and increased inflation may result in decreased demand for our products and services, increases in our operating costs (including our labor costs), reduced liquidity and limits on our ability to access credit or otherwise raise capital.
+Added: Inflation rates, particularly in the United States, have increased recently to levels not seen in years, and increased inflation may result in decreased demand for our products and services, increases in our operating
+Added: costs (including our labor costs), reduced liquidity and limits on our ability to access credit or otherwise raise capital.
In addition, the effects of inflation on consumers budgets could result in the reduction of our customers’ spending plans.
5 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.